Penske Automotive Group (NYSE:PAG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its price target for Penske Automotive Group from $175.00 to $180.00, suggesting a potential upside of 6.83% from the current stock price.
• Multiple analysts have given positive ratings for Penske Automotive Group, with prices ranging from $190.00 to $206.00, categorizing the stock as a "Moderate Buy."
• In its latest earnings report, Penske Automotive Group posted an EPS of $3.78, exceeding analyst expectations, despite a slight decline in revenue compared to the previous year.

Penske Automotive Group (NYSE:PAG - Get Free Report) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $175.00 to $180.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 6.83% from the stock's current price.

A number of other equities research analysts also recently issued reports on PAG. Morgan Stanley increased their price objective on shares of Penske Automotive Group from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Bank of America upped their target price on Penske Automotive Group from $190.00 to $205.00 and gave the company a "buy" rating in a report on Monday, June 16th. Weiss Ratings reiterated a "buy (b+)" rating on shares of Penske Automotive Group in a report on Wednesday, October 8th. Benchmark boosted their price objective on Penske Automotive Group from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Citigroup upped their price objective on Penske Automotive Group from $200.00 to $206.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Penske Automotive Group currently has an average rating of "Moderate Buy" and an average target price of $185.17.

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $168.49 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.21 and a debt-to-equity ratio of 0.16. The stock's fifty day simple moving average is $178.91 and its two-hundred day simple moving average is $169.08. Penske Automotive Group has a 1-year low of $134.05 and a 1-year high of $189.51. The stock has a market cap of $11.13 billion, a PE ratio of 11.73 and a beta of 0.88.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.22. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The business's revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.61 EPS. As a group, analysts forecast that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director Lisa Ann Davis sold 1,604 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $180.74, for a total transaction of $289,906.96. Following the sale, the director owned 1,529 shares in the company, valued at $276,351.46. This represents a 51.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michelle Hulgrave sold 1,100 shares of Penske Automotive Group stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total value of $200,805.00. Following the completion of the transaction, the chief financial officer owned 18,922 shares of the company's stock, valued at approximately $3,454,211.10. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 52.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC bought a new stake in Penske Automotive Group during the second quarter valued at approximately $34,000. Acadian Asset Management LLC purchased a new stake in shares of Penske Automotive Group during the 1st quarter valued at $42,000. GAMMA Investing LLC lifted its holdings in shares of Penske Automotive Group by 51.9% during the 1st quarter. GAMMA Investing LLC now owns 398 shares of the company's stock worth $57,000 after acquiring an additional 136 shares during the last quarter. UMB Bank n.a. grew its position in Penske Automotive Group by 18.6% in the second quarter. UMB Bank n.a. now owns 402 shares of the company's stock worth $69,000 after acquiring an additional 63 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in Penske Automotive Group by 353.0% in the first quarter. Brooklyn Investment Group now owns 453 shares of the company's stock valued at $65,000 after acquiring an additional 353 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.

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